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holiday. any hope of getting a fiscal cliff deal done in time? we are back after a quick break. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a reverse mortgage works, how much you qualify for, the ways to receive your money, and more. plus, when you call now, you'll get this magnifier with l.e.d. light absolutely free. when you call the experts at one reverse mortgage today, you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's comm
cliff. >> nine days to get a deal done. house speaker boehner is in ohio. president obama in hawaii. >>> today we say aloha to an american hero, the late senator daniel inouye was remembered with full military honors in hawaii. the 88-year-old senator lost his arm in world war ii, he represented hawaii in washington for more than 50 years. president obama and the first lady attended today's service. the president has said inouye was his earliest political inspiration. >>> many gun shop owners say sales have been booming. thousands of north texans visited local gun shows and stores this weekend where the most powerful weapons are costing more than ever. a gun dealer told our affiliate that an assault style weapon ran around $900. this week anywhere from 1500 to $2500 many in just a few minutes my conversation with a gun shop owner, several former police officers and a school safety expert who says the current call for bringing guns into schools for safety is in his words, borderline insane. >>> an estimated 87 million americans will be traveling over the holidays, and the weather is
to be resolved in a way that actually fixes the problem, not just postpones the fiscal cliff for another six months or another year. that doesn't resolve it. so our push us, why we tried to get this done in may of this year, rather than in december, is to say, we need to fix the problem. let's focus on that. jon: james langford is a republican from oklahoma. now our viewers no why you're on the republican policy committee today. good of you to join us. >> thank you. harris: we know this from the headlines. the cdc has had a rather busy year keeping us all safe. we'll look infections, diseases viral outbreaks, remember west nile this summer? put the centers for disease control in the news over the past year. >>> if your mom told you not to climb trees she needed to say it louder to this buy. look at this. an update on the man who had to be rescued after guesting three store i ares up a massive palm tree. how do you even climb a palm tree? jon: very carefully. harris: very carefully. great. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even d
on the fiscal cliff. have you got your holiday shopping done yet? are you done? >> gretchen: i am waiting for three things to come in the mail that they might not arrive. >> i an alert said winter weather causing shipping delays. >> if you are worried about your packages in christmas eve, you delayed yourself. >> gretchen: blame the weather guy. l>> i ordered it on friday. >> gretchen: merry christmas . still no deal in sight just more of the same way blame game . e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his ex
be done to avert this so-called fiscal cliff. ed, good to see you. merry christmas to you. >> reporter: merry christmas, kelly. economists have warned that this could lead to another recession if in fact these massive spending cuts and tax hikes kick in at the same time right at the beginning of the new year. what they're trying to do to avert that is scaled back plan that the president suggested late last week that would basically deal with some of the emergency pests of this. extended unemployment benefits for two million people about to be kicked off their benefits a week after christmas the president also wants to extend tax cuts for the middle class. you heard house speaker john boehner say the problem there that will raise tax rates for some. he thinks that will hurt the economy, although over the weekend in sort of a holiday message the speaker suggested maybe they can come together after the holiday. >> of course hope springs eternal and i know we have it in us to come together and do the right thing. we'll continue to work with our colleagues in the congress and the white hous
cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation has gone into place, things have not adjusted for the what the amt is now currently so this is going to be a big piece and those in the finance world are looking at making sure that this thing doesn't come into play. come 2014, people will have a big surprise if they file their taxes and this amt is not adjusted. >> ryan, look into the future which is ten days. do you think a deal will be done? >> what we're going to have, we're going to have a short-term deal. bottom line is if these spending cuts are way too extensive. the medicare cuts, way too extensive to put together in ten days. they haven't done enough to get that far.
, after i hope and pray we adopt the result of the negotiations going on now and avoid the fiscal cliff, we'll still be one grand bargain, budget deal away from restoring our -- our global preeminence. that work has to be done. but at least we will have avoided the cliff. mr. president, by a twist of fate, the occupant of the chair is my colleague and friend, the senator from connecticut, so like -- you've probably seen these numbers, but just to bring it home in one state, what will be the impact if we go over -- if we allow the country to go over the fiscal cliff. in connecticut, 1.4 million middle-class families will see their federal income taxes increase. almost a million and a half families. if the middle-class tax cuts are allowed to expire on january 1, a median-income connecticut family -- now, i know this -- the median in connecticut is higher than it is in most other states, but this number's true for any family making this amount of money, it makes an important point. a family of four earning $86,000 a year happens to be the immediatmedianfamily income in , but that family,
? >> the fiscal cliff puts it in jeopardy. many are afraid to invest in their business and hire new workers. make plans. >> no longer vetting a deal is done by new year's eve f. one comes by early january definitely a possibility. the economic impact should be minim minimal. if one comes later than that the damage to the economy is already done and you will see more talk of recession and analysts started cutting the earnings growth in the fourth quarter. >> one thing they don't like is uncertainty. apple released a new product and there will be another new product. >> now that you got them under the christmas tree. a man who has been right predicting apple products before a 5th generation ipad will look like the mini but some what thinner narrower and shorter than a regular ipad so not as small. apple is working on another generation of the ipad mini. it could be two new products. >> we could have just wasted our money at christmastime. >> sales were down from what was expected. >> yeah, the holiday shopping season a disappointment. the first tally on the sales is now in. spending polls said down
heading to the beach right now. not a bad assignment. you are absolutely right now. s a for the fiscal cliff talks, i'm told that there have been some fresh talks at the staff level but the hard work is not going to get done until lawmakers return to washington, that's expected to happen after the christmas holiday and at this point there's not a lot of time left and hopes for a grand bargain, president obama and house speaker boehner had been working on have all but evaporated right now. making sure that the steep tax hikes don't go in to effect. president obama on friday saying he would accept a deal as long as it does not allow taxes to go up on middle class americans, as long as it extends unemployment insurance and lays the groundwork for deficit reduction in the future. so there's sort of scaling back their expectations. house speaker boehner tried to get an alternative bill passed through the house last week. that failed. the focus shifts to the senate. reid and mcconnell will really be charged with trying to hammer out the fine details of that deal that can make it through the
. >>> president obama heading back to washington to tackle the fiscal cliff today. he will get to d.c. just as the house and senate expected to reconvene tomorrow. not much time left for a notoriously slow-moving washington to get something done. brianna keilar following the drama from honolulu, hawaii. she's there with the president. what is the latest. >> president obama is officially cutting short his christmas vacation and heading back from hawaii. tonight, hawaiian time, early in the morning on the east coast and returning to the d.c. area on thursday. as the senate is set to reconvene and all eyes really are looking there to see what senate majority leader harry reid can cobble together in order to get republican support to avoid the fiscal cliff. he'll also have to put together something that will get republican support in the house. this is a last-ditch effort and will be obviously very difficult if it succeeds at all. at this point, the white house still wants that threshold for income tax rates to be at 250,000. it's unclear, exactly what the senate proposal is going to look like.
boehner go through what is he going through on the fiscal cliff, would it be your advice to him to try to draft and bring some sort of legislation to the floor that was a bipartisan effort to discuss this? >> well, i mean, i think there's a bigger question to be answered, first, and, i mean, part of the dynamic -- whenever you have something like this occur, it's just so horrific, and it sort of shocks the country. what you unfortunately get sometimes is people pointing at each other to blame each other. it's the right blaming the left for the cultural dynamic, and it's the left blaming the right because of allowing guns to sort of be on the street and so have you this dynamic. ultimately the problem is how do we solve this problem, and i think the dynamic here is also we have to address a really serious problem. that is what do we do with people who are clearly mentally ill that we are aware of that are mentally ill, and you saw this happen with gabby giffords and in terms of columbine. obviously, this incident as well. virginia tech. what do you do when you recognize someone that's g
america from going over the fiscal cliff. as the house and senate reconvene tomorrow. the clock is ticking. six days until the deadline. the way things work in washington, can they actually get something done before the end of the year? brianna keilar, what is the latest on this? >> hi, there, drew. president obama will be heading home from hawaii tonight, logical time arri arriving in d.c. thursday morning when the senate will be reconvenin reconvening, and the senate, all eyes on now, that we look for the last-ditch effort to avoid the fiscal cliff. even though the president is returning on thursday, we may not see the senate roll out its bill to deal with the fiscal cliff. perhaps for a couple of days. this is entirely possible we've learned from sources as senate majority leader harry reid works to get republican support in the senate, which he will need if he's going to pass a bill. and so we're still waiting to see exactly what it will look like that the white house wants for the threshold on income tax rates to cut off at $250,000. we will see if that ultimately is what senate major
the fiscal cliff with a well thought out changes throughout the budget on the spending, on entitlements, on taxes. we have to do it all and we have to do it thoughtfully and proactively. what i fear we will see is a grab bag of things that people may want to get rid of. they basically want to make them disappear, so the wave the magic pen and say we will keep the policies in place but we will not pay for it appeared that what i'm afraid we will see. what i hope they will do is put in place the next steps. so if they do something that avert the cliff, which would be a good thing, i hope they have an agreement so january the members come back to town and keep working on this. this is not an issue they can walk away from. until we deal with a fiscal challenges, be cannot deal with any of the problem. we really are devising our economy. the consequences of inaction here on fixing our depth is a and death situation are tremendous. the people who will bear the biggest cost of this is the next generation. i think it reflects an incredible unwillingness to do the right thing by our kids and gra
with the fiscal cliff. i'm looking now to congress and say, pass the amt patch today. >> gretchen: all right. we'll see if they're listening to marty, a cpa who is a little nutsoutrig to get everything done before year's end. >> thank you very much. >> gretchen: georgetown cup cakes secret ingredient this new year, champagne? we're showing you how it make the party even sweeter with sophie. yep, she's just one part of the team with our others and she's here hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. >> gretchen: welcome back. wicked weather like this wreaking havoc on airports across the country. what can travelers expect? wfxt's katherine is live at logan international airport with the latest op the travel nightmare out of boston. good morning. >> good morning, gretchen. the sun is shining on us here in boston. but flights already beginning to be affected by the storm. flights going to dallas, columbus and
Search Results 0 to 13 of about 14